Myfxbook Copy Trading
You can copy best traders just by knowing the trends and strategies they follow.
What is Copy Trading?
Being in your MT5 account, you can simply copy the successful traders.
The trading systems created by other successful traders can now be viewed by the investor as well. An Investor is given a choice among the various ranges of trader systems and have a choice to opt for the system to follow based on his own trading style
How Does Copy Trading Work?
When you wish to follow, you just simply have to begin following them and the trades they do will be replicated in your account. In case if they open up the trade, the very same trade will be opened in your account too and if that trade is successful, your trade will be successful too.
In order to ensure the smooth mirror trading, autotrade system was launched and the time you subscribe the autotrade provider, you can change the multiplier value. With the change in this value will instantly show the hypothetical return and any risk if you might have based on the data. You get the same risk ratio as the provider when your multiplier of value is 1
You will notice the risk bar adjusted accordingly once you adjust the multiplier of each system, risk is the maximal drawdown as it ranges from 0% - 100%.
Your opted provider system will immediately determine the size of trades on your account once the multiplier is set. If the multiplier value is lower, the lower will be the risk, trade size and profit or loss.
For more info: https://autotrade.thelimarkets.com/support
How do I start Copy Trading?
STEP 1
Open your The LiMarkets LIVE account.
If you’re an existing The LiMarkets client, please email your account number to our Support Team and request to be added to The LiMarkets’s Myfxbook AutoTrade group.
Create AccountSTEP 2
Link your The LiMarkets MT5 account to Myfxbook.
Just visit the Myfxbook website and link your The LiMarkets trading account to Myfxbook AutoTrade. Then pick the automated Forex systems you like the best and copy them.
Connect to MyfxbookCopy Trading Benefits
NO EXPERIENCE NEEDED
You are not required to have experience to trade in a market. Even if you are new with no experience you can give a chance to yourself.
EASY TO USE
It is very reliable and is very easy to use as you won’t be needing an installation of any copy trade software.
VIEW PROFITABLE TRADES
Only historically profitable systems are shown that have been hand-picked from real accounts.
CUSTOMISABLE FEATURES
You can customise the system according to you, means you can add or remove a system at any time you want.
ACCURATE STATISTICS
Facts and figures plays a very important role and help you make better System Selections.
MANAGE YOUR RISK
By simply closing unwanted trades in your MT5, you can now control your risk on trade by trade basis.
ENHANCE YOUR KNOWLEDGE
You get a chance to enhance your skills and knowledge by watching the success of other traders trading system.
PRACTICE YOUR SKILLS
Open a Demo account to practice before you open a live account.